Insurance sales? Can it be fastlane?

[brianm4289]

I am friends with a guy who has been involved with insurance sales for years and he is really talking it up to me and telling me I should get involved. I do have a concern however...I would be working under him so he gets a certain percentage of profit for every sale I make and it kind of gives me a multi-level marketing feel. I know him on a personal level though and really really doubt he is trying to lead me into a scam... anyways has anybody worked in this field and had success? I know he does very well through his portfolio of clients over the years but I am looking for other stories about insurance sales good or bad and hearing if others have made this a fastlane venture thanks guys

 

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[GlobalWealth]

Nearly any business venture can be fastlane. It all depends on how you manage it.

I was just discussing this very issue with a friend of mine the other day. He was offered a job selling life insurance with a very large company.

I personally have no experience in this industry other than friends and family that do it so take it with a grain of salt.

The biggest issue I see selling insurance is 'the hook'. What I mean is you are going to start slowly, but as you build your client base, you will develop residual income. The residual income is 'the hook'.

Once 'the hook' is set, it will be difficult for you to change careers. Even if you don't like what you do for a living, you will likely stick with it because of the residual income.

I would suggest talk to some people who have been in the business for many years and grill them. Make sure this is something that appeals to you on all levels or you may get 'hooked' into something that becomes difficult to leave.

 

[Rickson9]

Whatever you decide to do, sales ability is fundamental.

Good luck and best regards.

 

[mottdog]

Also a key question to piggyback along with 'the hook' that GlobalWealth stated, will you get this residual income even if you move on to something else?

 

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[valuegiver]

If you own the insurance company, then yes it is a fastlane. Otherwise, it is a slowlane.

 

[hakrjak]

I'd say to be sure that you check out the Insurance company you go to work for before starting. I've done my research and found the most affordable company in my area compared to the others. I met the owner about 8 yrs ago when I became a client, and we've become friends since. He has been able to expand the business so much just based on word-of-mouth because his rates are the best. As a typical insurance customer, I go where I get the best rate for a AAA backed insurance policy, so I won't be switching from his company anytime soon. The owner of the local branch has been very successful, and I'm sure he's become a millionaire by now.

Cheers,

- Hakrjak